Aug. 11 (Bloomberg) -- Carson Yeung, the Birmingham City soccer club owner facing charges of money laundering, had his request to leave Hong Kong for the U.K. rejected by a magistrate in the Chinese city.
Acting Principal Magistrate David Dufton told Yeung today to apply to a higher court to change the terms of his bail and transferred the case to Hong Kong’s District Court. A hearing date was scheduled for Aug. 30.
Yeung, 51, had to surrender his travel documents as part of the conditions of bail that was granted June 30. He was charged with five counts of money laundering involving HK$721.3 million ($93 million). Yeung’s lawyer Jonathan Kwan said the businessman is needed in the U.K. because the period for player transfers ends at the end of the month. No plea was entered today.
Yeung was released in June after posting HK$4 million in cash and HK$3 million in cash guarantees. Each charge he faces is punishable by up to 14 years in jail and a fine of as much as HK$5 million.
Shares in Birmingham International Holdings Ltd., the West Midlands-based team’s parent company, have been suspended since June 30.
Birmingham was relegated from the Premier League last season, three months after winning the League Cup, its first major trophy in 48 years.
Birmingham, previously controlled by David and Ralph Gold and David Sullivan, was bought by Yeung in October 2009 in an 81.5 million-pound deal.
The case is Hong Kong Special Administrative Region and Yeung Ka-sing Carson, ESCC2717/2011 in the Hong Kong Eastern Magistrates’ Court.
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